The largest collection of gold sovereign coins ever found has been officially declared as treasure meaning the piano owner and the unwitting finder are due a share of the bounty.

But in a cruel twist of fate, the couple who donated the piano in 2016 are not entitled to a penny.

The haul of 913 gold sovereigns and half sovereigns date between 1847 and 1915, have a face value of £773 - the equivalent of roughly £500,000 today.

Thanks to the Treasure Act 1996, the person who found the coins, Martin Backhouse, 61, a piano tuner hired by the school, is due a share of the value of the coins.

A huge haul of gold coins have been found stashed inside a piano donated to a school in Shropshire. Meg and Graham Hemmings who gifted the piano do not stand to claim any money but the school will

Equally, the owner of the property, Bishop's Castle Community College in Bishop's Castle, Shropshire. is also due a share of the value.

The loot is expected to be claimed by the British Museum.

The coins, which weigh almost one stone, had been carefully stitched into seven cloth-bound packets and a leather drawstring purse.

These had then been stashed beneath the piano's keyboard in such a way that the instrument could still be played.

Meg and Graham Hemmings, previous owners of the piano said: 'Not long after we moved to Saffron Walden in 1983, we asked a friend of ours if he could keep an eye out for a second hand piano which we purchase for the use of our four children Sam, Will, Ben and Jessica.

Meg and Graham Hemmings, previous owners (pictured, left) donated the piano to the school after their children grew up and moved away. The piano had been used by their four children and remained in their family for 33 years. Piano tuner Martin Backhouse (pictured, right) discovered the stash and stands to gain half the value

'The rather attractive Broadwood piano arrived complete with two candlestick holders and the three boys in particular played it for the next 20 years.

'Although the iron-framed piano was tuned from time to time we had no idea that it contained the hidden coins.

'In 2005 the piano moved into storage prior to our purchasing a house in Bishop's Castle where we were privileged to live until we decided to 'downsize' in 2016.

'As our children had married and left home the piano was rarely played and functioned as a rather attractive piece of furniture in our dining room.

'We gladly donated and delivered the piano to the local Community College prior to our recent move in the knowledge that they would put it to good use.'

According to the British Museum, over 40 people contacted the Coroner with information about the find and attempted to make a claim. However the school and the piano tuner who found it stand to split the value, paid by the British museum should they want to claim it

The haul of 913 gold sovereigns and half sovereigns date between 1847 and 1915, have a face value of £773 - the equivalent of roughly £500,000 today

According to the British Museum, over 40 people contacted the Coroner with information about the find and attempted to make a claim.

However, none of the claimants were able to provide enough information to prove the gold belonged to them.

They have since been declared treasure by a Coroner.

A spokesperson for the British Museum said: 'The individual coins are not particularly rare being the button coinage of the British Empire.

'However, it is the largest hoard of its type known and the find is of significant importance from a historical perspective.

'It is a fascinating story. We are not aware of any other coin hoards being secreted in pianos.

Mrs Hemmings, 65, said: 'The sadness is, it's not a complete story, they've looked and searched for the people and they unfortunately haven't come forward.

'It's an incomplete story - but it's still an exciting story.'

The piano itself, having always been in plain sight, was not declared as treasure as it was not 'an associated find'.

Several of the collections date from 1904 and 1913-1915, which has led those involved in the find to speculate it was hidden during the First World War.

Peter Reavill, the finds liaison officer for Shropshire, said: 'It is right in the middle of the First World War, things are not going as well as you want, is the money safer in the bank or at home under lock and key?

After it has been deemed treasure, the British Museum must now offer it up to museums to buy at an independently set price. If there are no takers then the finder – the school – can then claim the contents

'So I think that is the background for these coins, the pressures of the time coming to the fore.'

However, cardboard lining from one of the packages, as well as staining in the piano, suggests the hoard could have been hidden between 1926-1946.

The piano was made by Broadwood & Sons of London and sold to a music shop in Saffron Walden, Essex in 1906, run by Messrs Beavan and Mothersole.

After it has been deemed treasure, the British Museum must now offer it up to museums to buy at an independently set price.

If there are no takers then the finder – the school – can then claim the contents.

Piano tuner Martin Backhouse said: 'It was one of those incredible moments.

'I had only taken out the first octave when I realised something was going on.

'I thought I am going to have to open up one of those packages to see what it is.

'There was no way I was expecting any gold. I opened up one of the packets and did a double take. I thought it couldn't be sovereigns, but this was something big.'

After it has been deemed treasure, the British Museum must now offer it up to museums to buy at an independently set price. If there are no takers then the finder – the school – can then claim the contents

The coins were found to be 91.7% pure gold, with the majority dating from the reign of Queen Victoria

The coins were found to be 91.7% pure gold, with the majority dating from the reign of Queen Victoria.

The hoard itself is now being held at a secure location, while the piano will be returned to its home in a local school.

However, the British Museum's Peter Reavill, shedding some light on its potential worth, said: 'There's a substantial amount of money there - enough to buy a house, so equivalent today to about £350,000.

'That's not to say it's worth that today, but that's its spending power.'

Mr and Mrs Hemmings said: 'It was during the summer term in 2016 that the Community College appealed to the local community for the donation of any unwanted pianos, as the school did not have enough pianos that students could use for lessons or practice.

Mr and Mrs Hemmings said: 'It was during the summer term in 2016 that the Community College appealed to the local community for the donation of any unwanted pianos, as the school did not have enough pianos that students could use for lessons or practice (pictured)

'We were extremely grateful to receive several donations, with the final piano arriving in September.

'It was on 21 November that we invited a piano tuner (Mr Backhouse) to visit the school to review and possibly tune four of the donated pianos. He felt that one of the pianos had particular potential and set to work.

'A short while later he informed me and the headteacher that he'd discovered several small packages concealed under the piano's keys. We opened one of them and found that it contained a number of coins, which we agreed were gold sovereigns.

'Clearly this was something that none of could possibly have imagined and it's hard to describe how we felt on making this discovery.

'After the initial shock, surprise and excitement, we had to quickly decide what to do next.

'We photographed the packages in situ, numbered and photographed each package, and placed them in the school safe.

'After carrying out some internet-based research into gold sovereign and the Treasures Act 1986 we agreed that the coins were a significant find and should be reported to the coroner.

The haul of 913 gold sovereigns and half sovereigns date between 1847 and 1915, have a face value of £773 - the equivalent of roughly £500,000 today. Ian Richardson, Treasure Registrar, British Museum said: 'This is not a long-buried assemblage of war booty or grave goods, but a large sum of money hidden in plain sight less than 100 years ago.'

Treasure Act 1996

Under the Treasure Act 1996, treasure is defined as any single object at least 300 years old which is not a coin but has a precious metal content of at least 10 per cent.

The Act gives a finder 14 days to inform the local coroner of potential treasure and creates an offence of failing to carry out that duty where this is not followed.

The Treasure Act allows for a reward up to the market value of the treasure to be shared among the finder and the owner of the land on which the treasure was found. The amount of the reward and how it is divided among the claimants is determined by the Treasure Valuation Committee.

'Shortly after contacting the coroner's office we were contacted by Peter Reavill, Shropshire's finds liaison officer, who was working on the coroner's behalf.

'In this conversation and a subsequent meeting we discussed the find, the Treasures Act, and how the piano was acquired.

'Peter confirmed that the coins were genuine and took them away for safe-keeping and began the investigations that led us to where we are today.

'If the school were to be a beneficiary from the find, then we think it's only right and fair that the money be used to benefit our students and the local community of Bishop's Castle.'

Ian Richardson, Treasure Registrar, British Museum said: 'This is not a long-buried assemblage of war booty or grave goods, but a large sum of money hidden in plain sight less than 100 years ago.'